Illinois law allows units of local governments to designate areas within their jurisdiction as TIF districts, and there are several within Normal town limits. These districts dedicate sales tax revenues and additional property tax revenues generated within the TIF for improvements within the district to encourage new economic development and job creation. Funds may be used for costs associated with the development or redevelopment of property within the TIF, allowing blighted, declining and underperforming areas to again become viable, and allowing these areas to compete with vacant land at the edge of urban areas.
Projects in TIF districts typically include:
Redevelopment of substandard, obsolete, or vacant buildings
Financing public infrastructure improvements, including streets, sewer, water, in declining areas
Cleaning up polluted areas
Improving the viability of downtown business districts; rehabilitating historic properties
Providing infrastructure needed to develop a site for new industrial or commercial use
The Illinois Enterprise Zone Program is designed to stimulate economic growth and neighborhood revitalization in economically depressed areas of the state through state and local tax incentives, regulatory relief and improved governmental services. The local program is administered by the Bloomington-Normal Economic Development Council. Businesses located or expanding in an Illinois enterprise zone may be eligible for state and local tax incentives such as:
Exemption on retailers’ occupation tax paid on building materials
Expanded state sales tax exemptions on purchases of personal property used or consumed in the manufacturing process or in the operation of a pollution control facility
An exemption on the state utility tax for electricity and natural gas
An exemption on the Illinois Commerce Commission’s administrative charge and telecommunication excise tax
Special Service Area
A Special Service Area (SSA) is defined by Illinois law as “a contiguous area within a municipality or county in which special governmental services are provided.” This type of district allows local governments to establish such areas without incurring debt or levying a tax on the entire municipality. In short, an SSA allows local governments to tax for and deliver services to limited geographic areas within their jurisdictions. Ordinance No. 4971 established Special Service Area Number One at the Shoppes at College Hills.